Energy storage installations in the US surged by 240% in the third quarter of 2020.
That’s one of the findings of the latest report by Wood Mackenzie and the US Energy Storage Association (ESA), which suggests 476MW of storage were deployed across the US.
According to the quarterly analysis, major growth occurred in the front-of-the-meter (FTM) market segment, which accounted for almost 400MW and 578MWh, surpassing previous records of 133 MW and 296 MWh for this sector.
FTM batteries are interconnected to distribution or transmission networks or in connection with a generation asset.
The report suggests the residential energy storage market continued its growth, hitting 52MW and 119MWh in the same period.
The US battery energy storage market is set to grow from 1.2GW in 2020 to nearly 7.5GW in 2025, the researchers said.
Kelly Speakes-Backman, Chief Executive Officer of the US Energy Storage Association said: “The signs are pointing toward an unprecedented increase in energy storage in the coming months, moving us closer toward achieving our 100GW by 2030 vision.
“With continued policy support and regulatory reform at the state and federal levels, energy storage is poised to continue this trajectory and enable a more resilient, efficient, sustainable, and affordable electric grid for all.”